38618 Remora Ave #92 · Zephyrhills, FL 33542

$54,900

2 bd · 1.0 ba · 924 sqft · Manufactured · 135 Days on market

Built 1972 $120/mo HOA · 9% of rent ↓ 17% since listing

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks

MOVE-IN READY!! REDUCED TO $59,900! LOOKING FOR AN UPDATED STARTER HOME? Come and see this 2-bedroom, 1 bath home with completely remodeled kitchen and bathroom in 2023. LOW MONTHLY HOA FEES only $120 a month for a POOL COMMUNITY! This nicely updated singlewide home offers a cozy yet spacious layout with modern kitchen cabinets and new bathroom updated with easy get in shower. The bonus room offers extra living space currently set up as a cozy living room with a couch that turns into a bed along with other furniture, that's an extra 240 sq. ft of living area as well as 684 Sq ft in the main area for a total of 924 sq ft of living area making use of all the space. The spacious shed holds

Key facts

• Pool community
• Remodeled bathroom
• Spacious shed

Tags

• REMODELED KITCHEN
• REMODELED BATHROOM
• BONUS ROOM
• SCREENED PORCH
• SPACIOUS SHED
• POOL COMMUNITY

Property features AI

Finance

• Other: Monthly HOA fee totals $120; annual fees $1,440; Condo land included
• Financial info: Turnkey (furnished); Lease restrictions apply
• HOA & community: Has HOA; monthly fee $120 (includes pool and private road); Association approval required; Association amenities: pool, recreation facilities, clubhouse; Community features: clubhouse, pool, street lights, golf carts allowed, buyer approval required; Senior community; Pets allowed: cats OK (number and size limits apply)

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water connected; Public sewer (sewer connected); Underground utilities; Water connected
• Home design: Single-wide mobile home; Manufactured by Jamison, model year 1972; One story; Faces north; Crawlspace foundation
• Construction: Metal frame construction; Metal roof
• Exterior features: Enclosed patio/sunroom (Florida Room); Front porch; Screened porch; Side porch; Storage shed(s); City limits lot; Paved lot/road

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Baseboard heating; Electric heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Kitchen/family room combo; Solid wood cabinets; Thermostat; Window treatments; Blinds; Insulated windows
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 3.8% in Zephyrhills — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#330 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, crime C-, amenities F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-3.6%/yr); 297 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 33% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.49% ✓
• Cap rate: 19.01%
• Cash-on-cash: 45.41%
• DSCR: 3.02
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $113,652
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38541 Windflower Ave	0.08mi	2/1.0	825 (-11%)	4mo	$65,000	$79	75
38732 Vulcan Cir	0.08mi	2/2.0	966 (+4%)	12mo	$137,900	$143	75
38700 Granger Ln	0.13mi	2/2.0	960 (+4%)	12mo	$150,000	$156	74
39033 Flora Ave	0.44mi	2/1.0	903 (-2%)	7mo	$85,000	$94	70
39115 Ola Ave	0.51mi	2/2.0	960 (+4%)	1mo	$120,000	$125	65
38723 Vulcan Cir	0.12mi	2/2.0	1,056 (+14%)	4mo	$140,000	$133	63
39153 Hillcrest Dr	0.63mi	2/1.5	932 (+1%)	5mo	$70,000	$75	63
6246 Midland St	0.44mi	3/2.0 (+1)	960 (+4%)	4mo	$101,000	$105	61
39047 Hillcrest Dr	0.51mi	2/2.0	896 (-3%)	8mo	$100,000	$112	61
38742 Vulcan Cir	0.11mi	2/2.0	1,056 (+14%)	11mo	$130,000	$123	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 2.58×
• Total profit: $24,239
• Equity at exit: $8,186

10-year hold

• IRR: 43.5%
• Equity multiple: 4.49×
• Total profit: $53,700
• Equity at exit: $4,747

Cash invested: $15,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33542

• Home prices YoY: -20.6%
• Rents YoY: -3.6%
• Active inventory: 297
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,369 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$120
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $582

Break-even live

Break-even rent $632

Max offer price $54,900

Occupancy floor 52%

Sensitivity live

Price	-10% $620	-5% $601	+0% $582	+5% $563	+10% $544
Rent	-10% $474	-5% $528	+0% $582	+5% $636	+10% $690
Rate	-1.0pp $609	-0.5pp $596	base $582	+0.5pp $568	+1.0pp $553

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38485 County Road 54 Zephyrhills, FL	2.0	1.0	800	$1,100	$1.38	25d	1	0.16mi
6788 Basswood Cir Zephyrhills, FL	2.0	2.0	1067	$1,250	$1.17	25d	1	0.22mi
38748 Calumet Ave Zephyrhills, FL	2.0	1.0	750	$1,100	$1.47	6d	1	0.27mi
38350 Ironwood Pl #5 Zephyrhills, FL	2.0	2.0	1094	$1,800	$1.65	25d	1	0.28mi
39132 County Rd Zephyrhills, FL	2.0	2.0	864	$1,500	$1.74	25d	1	0.52mi
6052 10th St Zephyrhills, FL	2.0	1.0	644	$1,200	$1.86	25d	1	0.53mi
38647 Rose Ln Zephyrhills, FL	2.0	1.0	814	$1,350	$1.66	25d	1	0.53mi
39132 County Road 54 #2184 Zephyrhills, FL	2.0	2.0	864	$1,500	$1.74	25d	1	0.54mi
38621 Rose Ln Zephyrhills, FL	2.0	1.0	1040	$1,495	$1.44	0d	1	0.56mi
38939 North Ave Unit 2 Zephyrhills, FL	2.0	1.0	870	$1,300	$1.49	19d	1	0.66mi
38112 Townview Ave Zephyrhills, FL	1.0	1.0	700	$1,100	$1.57	25d	1	0.86mi
37814 Daughtery Rd Zephyrhills, FL	2.0	1.0	1070	$1,395	$1.30	6d	1	0.89mi
37732 Cecil Ln Zephyrhills, FL	3.0	1.0	1040	$1,800	$1.73	25d	1	0.91mi
5652 18th St Zephyrhills, FL	2.0	1.0	976	$1,200	$1.23	25d	1	0.92mi
38942 9th Ave Zephyrhills, FL	2.0	1.0	850	$1,425	$1.68	25d	1	0.95mi
5647 20th St Zephyrhills, FL	2.0	1.0	850	$1,425	$1.68	25d	1	0.96mi
38010 14th Ave Apt 3 Zephyrhills, FL	1.0	1.0	537	$1,195	$2.23	25d	1	1.03mi
5542 20th St Unit 1234473P Zephyrhills, FL	2.0	2.0	839	$3,199	$3.81	4d	1	1.08mi
5532 20th St Unit 1234470P Zephyrhills, FL	2.0	2.0	839	$7,732	$9.22	0d	1	1.09mi
37812 15th Ave Zephyrhills, FL	2.0	2.0	1000	$1,850	$1.85	25d	1	1.14mi
5441 6th St Zephyrhills, FL	2.0	1.0	1014	$1,650	$1.63	25d	1	1.18mi
5611 1st St Zephyrhills, FL	1.0	1.0	600	$1,095	$1.82	18d	1	1.18mi
7660 Emerson Hill Cir Zephyrhills, FL	1.0–3.0	1.0–2.0	1077	$1,970	$1.83	0d	33	1.22mi
5532 Jennie St Zephyrhills, FL	2.0	2.0	862	$1,100	$1.28	13d	1	1.24mi
5600 Jennie St Zephyrhills, FL	2.0	2.0	730	$1,100	$1.51	25d	1	1.26mi
5548 Annette St Zephyrhills, FL	2.0	1.0	652	$1,049	$1.61	13d	1	1.28mi
5603 Eugene Dr Zephyrhills, FL	2.0	1.0	652	$1,049	$1.61	13d	1	1.30mi
5552 Annette St Zephyrhills, FL	2.0	1.0	652	$1,049	$1.61	25d	1	1.31mi
5217 17th St Zephyrhills, FL	1.0	1.0	540	$1,050	$1.94	25d	1	1.36mi
5206 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	6d	1	1.36mi
5208 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	6d	1	1.36mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$950	$1.73	6d	1	1.36mi
5214 7th St Zephyrhills, FL	1.0	1.0	550	$1,100	$2.00	18d	1	1.36mi
6302 Abbott Station Dr Zephyrhills, FL	3.0	1.0–2.5	855	$1,732	$2.02	3d	142	1.37mi
5150 6th St Zephyrhills, FL	1.0	1.0	600	$925	$1.54	25d	1	1.41mi
5237 1st St Zephyrhills, FL	3.0	1.0	964	$1,700	$1.76	25d	1	1.46mi

HOA detail

• Monthly dues: $120 · $1,440/yr
• Likely covers: pool

Listing history 16 events

1. 2026-06-18
   days on market $54,900 Active 135 DOM
2. 2026-06-17
   days on market $54,900 Active 134 DOM
3. 2026-06-16
   days on market $54,900 Active 133 DOM
4. 2026-06-15
   days on market $54,900 Active 132 DOM
5. 2026-06-13
   pricedays on market $54,900 Active 130 DOM
6. 2026-06-09
   days on market $59,900 Active 126 DOM
7. 2026-06-08
   days on market $59,900 Active 125 DOM
8. 2026-06-07
   days on market $59,900 Active 124 DOM
9. 2026-06-04
   days on market $59,900 Active 121 DOM
10. 2026-06-03
    days on market $59,900 Active 120 DOM
11. 2026-06-02
    days on market $59,900 Active 119 DOM
12. 2026-06-01
    days on market $59,900 Active 118 DOM
13. 2026-05-31
    days on market $59,900 Active 117 DOM
14. 2026-04-11
    price $59,900
15. 2026-03-07
    price $67,000
16. 2026-02-03
    listed $72,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,422
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − HOA: −$1,440
• − Depreciation: −$1,597
• Taxable income: $6,584
• Est. tax owed @ 24.0%: −$1,580
• After-tax cash flow: $5,401/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pasco
• NCES district ID: 1201530
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $45,039
• Composite: 43.14/100
• National rank: #3074
• State rank: #32 of 73 in FL

Livability — Zephyrhills

• Score: 72/100
• State rank: #330
• US rank: #5760

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D- Housing A+ Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zephyrhills, FL
• County: Pasco County · 524,098 people
• City population: 48,266
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 23,612
• Household income: $49,316
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 831.0

Population outlook (Pasco County) Hauer SSP2

• Today (2025): 570,045 people
• By 2030: 605,844 · +6.3%
• By 2040: 674,806 · +18.4%
• By 2050: 736,022 · +29.1%
• By 2075: 862,900 · +51.4%
• By 2100: 906,364 · +59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 8% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Pasco

• 2024 margin: Strong R (+25.2) · D 36.9% · R 62.1% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -3.6pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+20.1 2016: R+21.6 2012: R+6.7 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.25%
• Current HPI: 313.3993
• Rent YoY: ▼ -3.56%
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-17.4% since first listed

3 events — show timeline

• 2026-04-11 Price Changed $59,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-07 Price Changed $67,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Listed $72,500 Stellar MLS as Distributed by MLS Grid